Ternus Takes the Helm at Apple: New Remuneration Structure Unveiled

John Ternus has taken over as CEO of Apple, following Tim Cook's fifteen years at the helm. As part of the transition, Apple has introduced a new remuneration structure for its executives.

Ternus will receive a remuneration package in 2027 with a target value of around $58 million, consisting of salary and share awards. His annual salary has been increased to $3 million, and he will also receive an annual share-based award with a target value of $55 million from the 2027 financial year onwards.

The majority of Ternus's share-based remuneration will be linked to Apple's performance relative to the S&P 500. In fact, 75% of his bonus in 2027 will consist of performance-based RSUs, which will vest based on Apple's total shareholder return compared to other S&P 500 companies.

Cook, who remains executive chairman, will receive a package worth around $47 million in 2027. His annual salary has decreased from $3 million to $2 million, and he will also receive a share-based award with a target value of $45 million for the 2027 financial year.